Yara and ACME signed a binding agreement for supply of green ammonia
01 Marzo 2024 - 1:03AM
Yara and ACME signed a binding agreement for supply of green
ammonia
Yara, a leading Norwegian crop nutrition company and a
global leader in ammonia trade and shipping, and GHC SAOC, a
wholly owned subsidiary of Acme Cleantech, a leading renewable
energy company in India, today signed a firm and binding agreement
for supply of ammonia with reduced CO2 emissions from Acme to Yara
on a long-term basis.
Both companies had previously signed a non-binding offtake Term
Sheet and the current agreement concludes 18 months of negotiations
during which the regulatory framework and certification regime have
evolved significantly, creating a suitable environment for such
long-term contracts.
The long-term offtake agreement between Yara and Acme covers the
supply of 100 000 tons per annum of renewable ammonia and possibly
the world’s first arm’s length contract for renewable ammonia of
this scale and tenure. Over its life cycle, the project will help
reduce global GHG emissions by up to 5.0 million tons of CO2
equivalents. In the base case, the renewable ammonia will be
supplied by Acme from Phase-1 of its Oman project with an expected
start date in 2027 and will comply with the EU RFBNO and Renewable
Energy Directive requirements.
“Yara Clean Ammonia is a frontrunner in enabling the hydrogen
economy across the shipping, food, power, and industrial sectors.
The renewable ammonia from Oman will be part of our scalable
distribution system, developing a reliable, safe, and
cost-efficient supply chain for low emission ammonia across
different market segments. This agreement demonstrates the power of
partnerships and collaboration to develop value chains that reduce
emissions” says Magnus Ankarstrand, President Yara Clean
Ammonia.
Mr. Ashwani Dudeja, Director ACME Group said “We are pleased to
have concluded the deal with Yara who will serve as an anchor
customer for our solar based ammonia project being developed in
Oman. This agreement is only a start and will facilitate further
cooperation between the two companies while playing a vital role in
accelerating the adoption of green hydrogen and its derivatives. We
have had a number of firsts to our credit in this sector and with
the signing of this contract, we aim to become the world’s first
large scale producer of green ammonia.”
Oman's favorable conditions for renewable energy, its strategic
location, and the proactive approach by the government, makes it an
appealing hub for producing green ammonia. ACME is spearheading the
construction of green ammonia project in Oman with a planned
capacity of 900 000 ton per annum to be developed in phases. Yara,
renowned for its expertise in global ammonia production, logistics,
and trade, is actively expanding the market for renewable ammonia,
essential for decarbonizing various industries.
About YaraYara grows knowledge to responsibly
feed the world and protect the planet. Supporting our vision of a
world without hunger and a planet respected, we pursue a strategy
of sustainable value growth, promoting climate-friendly crop
nutrition and zero-emission energy solutions. Yara’s ambition is
focused on growing a nature positive food future that creates value
for our customers, shareholders, and society at large and delivers
a more sustainable food value chain.
To achieve our ambition, we have taken the lead in developing
digital farming tools for precision farming and work closely with
partners throughout the food value chain to improve the efficiency
and sustainability of food production. Through our focus on clean
ammonia production, we aim to enable the hydrogen economy,
driving a green transition of shipping, fertilizer production and
other energy intensive industries.Founded in 1905 to solve the
emerging famine in Europe, Yara has established a unique position
as the industry’s only global crop nutrition company. We operate an
integrated business model with around 17,000 employees and
operations in over 60 countries, with a proven track record of
strong returns. In 2023, Yara reported revenues of USD 15.5
billion. www.yara.com
About Yara Clean AmmoniaYara Clean Ammonia is
uniquely positioned to enable the hydrogen economy in a market
expected to grow substantially over the next decades. We aim at
significantly strengthening our leading global position as the
world’s largest ammonia distributor, unlocking the green and blue
value chains, and driving the development of clean ammonia
globally.
Building on Yara’s leading experience within global ammonia
production, logistics and trade, Yara Clean Ammonia works towards
capturing growth opportunities in low-emission fuel for shipping
and power, carbon-free food production and ammonia for industrial
applications.
Yara Clean Ammonia operates the largest global ammonia network
with 15 ships and has, through Yara, access to 18 ammonia terminals
and multiple ammonia production and consumption sites across the
world. Revenues and EBITDA for FY 2023 were USD 1.9 billion and USD
101 million respectively. Yara Clean Ammonia is headquartered in
Oslo, Norway.www.yaracleanammonia.com
About ACMEAcme Group is one of the largest
renewable Independent Power Producer in India with a portfolio of
more than 8.5 GWp of renewable energy capacity under operation and
various stages of implementation. In 2021, Acme built what is
perhaps the world’s first Green Ammonia plant in Bikaner, Rajasthan
and in 2022 obtained the world’s first certification for green
ammonia from Oman project by TUV Rhineland. Drawing upon its
experience and strengths, ACME aspires to become a leading green
energy provider from electrons to molecules and is developing
several green hydrogen and ammonia projects in India, Oman and USA
with an aim to have a portfolio of c. 10 million ton per annum of
green ammonia or equivalent hydrogen/derivatives by 2032. Acme has
a global footprint with offices and representatives in Japan,
Middle East, Europe and USA for the marketing and supply of green
hydrogen and its derivatives to the international markets. For more
information, please visit http://www.acme.in
- Yara and ACME sign binding agreement for supply of green
ammonia
- Yara and ACME representatives
Yara International ASA (TG:IU2)
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De Abr 2024 a May 2024
Yara International ASA (TG:IU2)
Gráfica de Acción Histórica
De May 2023 a May 2024